Adviser to the Minister of Industry and Mineral Resources, Saleh Al-Solami, reveals Saudi Arabia's strategic plan to position Jazan as a trade center for African markets, capitalizing on the Kingdom's industrial capacity.
Jazan: A Key Hub for African Markets
During the Jazan Investment Forum 2023, Saleh Al-Solami, Adviser to the Minister of Industry and Mineral Resources, highlighted Saudi Arabia's vision to transform the Jazan region into a pivotal center for African trade. Al-Solami emphasized the Kingdom's industries' capability to capture a more substantial share in African markets.
Al-Solami stated, "The size of the economy in Africa — the volume of demand and imports — exceeds $400 billion, so there is great scope for Saudi industries to hold a larger share in African markets." He sees the Jazan region as a major regional center and outlet for neighbouring demand markets.
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Strategic Development as a Special Economic Zone
Aligning with Saudi Arabia's strategic decision to develop Jazan as a special economic zone with a focus on the logistics industry, Al-Solami sees the region playing a crucial role in linking areas that provide raw materials to Africa. Leveraging the Kingdom's manufacturing capabilities, Jazan can add value to the value chain and re-export to targeted markets, both locally and internationally.
Jazan Industrial City Infrastructure
Majed Al-Shathry, Vice President of Acting Industrial Cities Operation at MODON, shed light on the infrastructure in the Jazan Industrial City during the forum. He highlighted that the Jazan Industrial City covers an extensive area of 39 million square meters, with 3 million square meters already developed. The city comprises 62 industrial contracts, including 24 productive industrial facilities, with the rest in various stages of construction and preparation for production.
Al-Shathry further revealed that the Jazan Industrial City includes eight existing ready-made factories and 10 factories currently under construction, expected to be ready within the next 2 to 3 months. This robust infrastructure positions Jazan as a prime location for industrial growth and economic development.
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Jazan Investment Forum 2023
The Jazan Investment Forum 2023, held under the patronage of Crown Prince Mohammed bin Salman, aims to introduce economic advantages in the logistics and agriculture sectors. The event also focuses on highlighting the environmental and climatic diversity of the region, particularly Farasan Island. The forum serves as a platform to showcase the potential for investment and economic growth in Jazan, supporting Saudi Arabia's broader vision for industrial and economic development.
